Energa reverses PLN 138 mln impairment

WSE-listed power utility Energa has reversed its PLN 138 million impairment on generation units and as a result, expects its net profit for 2017 to be boosted by PLN 114.9 million. “As a result of impairment tests carried out for the fourth quarter of 2017, we’ve increased the recoverable value of wind and conventional assets. On January 17, 2018, a decision was made to reverse impairment losses on assets in the generation segment for the total amount of PLN 138 million, of which PLN 87 million is attributable to wind assets and PLN 51 million to Ostrołęka power plant,” the company said in a market filing. The reversal is of non-cash nature and will have no impact on EBITDA.